Posted by: admin in chapter 13 bankruptcy rules on
Robbie M asked:
My situation has drastically changed and the amount that I must pay back will double in November and there is no way that I can afford it at that point. I am desperate.
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My situation has drastically changed and the amount that I must pay back will double in November and there is no way that I can afford it at that point. I am desperate.
Go back to the bankruptcy judge and see if they will reopen it and change status for you.
Normally if there is a major change in your circumstances, you can ask for a change to your plan. You could also attempt to negotiate lower payments that would still work for you even taking into account the large change.
Best bet is to have a good lawyer advise you on your options.
Do you have a lawyer? Yes, he can convert your case to a 7 if you have not filed a chapter 7 in the past 8 years. also, you income has to pass the means test. just ask your lawyer.
having worked in a law firm, if you don’t have an lawyer to help you, hire one. Bankruptcy laws have changed over that last few years. You can’t afford NOT to have a lawyer. I filed a Chapter 7 and after getting a secured credit card for $300.00, charging anywhere from $25-$50. a month and paying it off every month I rebuilt my credit in 3 years and was able to get credit again. If you own a home refinance it and pay off bills that are eating you alive. There are ways out. You just need someone to help you with it and a lawyer is the best shot you have. With a lawyers assistance you may be able to re-evaluate the bankruptcy payments with the courts and creditors.